Question: QUESTION TWO Plot the TFC. TVC, and TC on a graph from the data below (4 marks) TFC TVC TC 120 0 120 60 120

QUESTION TWO Plot the TFC. TVC, and TC on a graph from the data below (4 marks) TFC TVC TC 120 0 120 60 120 200 120 90 120 105 120 260 120 330 ) Find the AFC, the AVC, the AC, and the MC schedules (8 marks) Plot the AFC, AVC, AC, and MC on graph (8 marks) JESTION THREE a. What is an indifference curve? (2 marks) Write on two (2) characteristics of indifference curves (4 marks) What is Marginal Rate of Substitution? (2 marks)

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=+model and wants to mitigate that threat by investigating possible alternatives?

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